Teleglobe sold
Created: Feb 15, 2006 10:00 AM
NEW DELHI (Bloomberg) ? Indian long distance telephone company Videsh Sanchar Nigam Ltd., expects revenue may triple in the year to March 31, 2007, on the acquisition of Bermuda-based Teleglobe International Holdings Ltd.
The purchase of Teleglobe, which sells services to transmit data over the Internet, gives Videsh Sanchar access to a telecommunications network across 240 countries.
Videsh Sanchar yesterday announced the completion of the acquisition of Hamilton, Bermuda-based Teleglobe for $239 million. Teleglobe was delisted from the Nasdaq Stock Market.
